Vanguard Group Inc. Lowers Stock Holdings in Fox Factory Holding Corp. $FOXF

Vanguard Group Inc. lowered its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,252,013 shares of the company’s stock after selling 73,978 shares during the period. Vanguard Group Inc. owned about 10.17% of Fox Factory worth $103,281,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Fox Factory by 23.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock worth $179,000 after purchasing an additional 1,415 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Fox Factory by 14.8% during the third quarter. Public Sector Pension Investment Board now owns 163,004 shares of the company’s stock valued at $3,959,000 after buying an additional 21,030 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Fox Factory in the third quarter worth $924,000. WCM Investment Management LLC bought a new position in shares of Fox Factory during the third quarter worth $10,565,000. Finally, Bridges Investment Management Inc. increased its holdings in Fox Factory by 6.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 77,967 shares of the company’s stock valued at $1,894,000 after acquiring an additional 4,716 shares during the last quarter.

Fox Factory Stock Down 1.1%

NASDAQ FOXF opened at $17.85 on Thursday. Fox Factory Holding Corp. has a 52 week low of $13.08 and a 52 week high of $31.18. The firm has a market capitalization of $746.13 million, a price-to-earnings ratio of -1.37 and a beta of 1.50. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $18.64 and a two-hundred day moving average of $20.86.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $361.07 million during the quarter, compared to analyst estimates of $353.88 million. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS. On average, analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a report on Thursday, January 22nd. Roth Mkm cut their price target on Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. CJS Securities raised Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research lowered shares of Fox Factory from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.60.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.